People spend money, real and virtual, on the craziest things. In October, an art collector a 10 second video for $67k, and a week ago, turned it around for $6.6 million. A non-fungible token (or NFT) is a digital asset, using blockchain tech (like Bitcoin) that proves it’s a one-of-a-kind item. The claim for value is that it has the provenance of the work on hand, and you can prove that you are the only one to have unique ownership of this item. I don’t see the value, but apparently others do.

In October 2020, Miami-based art collector Pablo Rodriguez-Fraile spent almost $67,000 on a 10-second video artwork that he could have watched for free online. Last week, he sold it for $6.6 million.

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